Advertisement
U.S. markets close in 4 hours 15 minutes
  • S&P 500

    5,076.16
    -2.02 (-0.04%)
     
  • Dow 30

    38,900.17
    -72.24 (-0.19%)
     
  • Nasdaq

    16,001.17
    -34.13 (-0.21%)
     
  • Russell 2000

    2,049.79
    -6.31 (-0.31%)
     
  • Crude Oil

    78.32
    -0.55 (-0.70%)
     
  • Gold

    2,041.90
    -2.20 (-0.11%)
     
  • Silver

    22.60
    -0.15 (-0.67%)
     
  • EUR/USD

    1.0842
    -0.0006 (-0.05%)
     
  • 10-Yr Bond

    4.2910
    -0.0240 (-0.56%)
     
  • GBP/USD

    1.2663
    -0.0024 (-0.19%)
     
  • USD/JPY

    150.7200
    +0.2400 (+0.16%)
     
  • Bitcoin USD

    61,791.07
    +4,877.74 (+8.57%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • FTSE 100

    7,626.80
    -56.22 (-0.73%)
     
  • Nikkei 225

    39,208.03
    -31.49 (-0.08%)
     

UAW-GM members approve tentative labor deal in close vote

The deal passed by a slim 54.7% to 45.3% margin.

It's official. Per the UAW GM member voting tracker workers voted to approve the "historic" tentative contract between the union and GM.

The voting came down to the wire, with the tracker tallying all the results across GM assembly plants and parts centers. The deal passed by a slim 54.7% to 45.3% margin, with 19,683 "yes" votes and 16,274 "no" votes. The turning point came yesterday at GM's big plant in Arlington, Texas, where over 3,300 workers voted to approve the tentative deal by 60.8%.

Striking United Auto Workers (UAW) members from the General Motors Lansing Delta Plant picket in Delta Township, Michigan U.S.  September 29, 2023.    REUTERS/Rebecca Cook
Striking United Auto Workers (UAW) members from the General Motors Lansing Delta Plant picket in Delta Township, Mich., Sept. 29, 2023. (Rebecca Cook/REUTERS) (Rebecca Cook / reuters)

Earlier this week concern grew among execs at GM (GM), and likely leadership at the UAW, after workers at several GM plants voted to reject the tentative labor deal.

Production workers at GM’s Lansing Delta plant — UAW Local 602 — voted against the deal, with 63% opposing it. However, 60% of skilled trade workers voted for the deal. Overall totals resulted in 61% against and 39% for the deal at the Lansing Delta plant, which builds the Chevrolet Traverse, Buick Enclave, and GMC Acadia SUVs. The UAW's vote tracker does not include the vote tally from Lansing Delta Township, however.

GM's big Lansing plant joined other plants like Wentzville Assembly, Defiance, Romulus Engine, Bowling Green, Lansing Grand River, Pontiac Stamping, Towanda Engine, and Marion Assembly in rejecting the deal.

Reports suggest veteran GM UAW members were concerned that newer workers are getting more money and better retirement benefits than older workers. Other workers were unhappy about the lack of a defined pension plan that workers had before the Great Financial Crisis of 2008.

GM union members had until Thursday at 4 p.m. ET to vote on ratifying the tentative deal.

As for the other members of the Big Three, per the UAW Ford’s (F) union workers have thus far approved the deal by a 66.7% vote, and Stellantis’s (STLA) UAW workers have voted by a 66.5% vote to approve the deal as of midday Thursday.

Pras Subramanian is a reporter for Yahoo Finance. You can follow him on Twitter and on Instagram.

Click here for the latest stock market news and in-depth analysis, including events that move stocks

Read the latest financial and business news from Yahoo Finance

Advertisement